Examples of JMB LP in a sentence
The Upper Tier Limited Partnership and JMB LP, as a partner therein, shall be entitled to confer with such accountants concerning all tax matters.
JMB LP shall be charged with all income accrued under the JMB Collateral prior to its liquidation and application by the General Partner in accordance herewith.
The General Partner shall hold the JMB Collateral in accordance with the terms hereof and JMB LP hereby grants to the General Partner a first priority perfected security interest therein and agrees to take such actions as the General Partner may reasonably request to ratify, confirm and continue such security interest.
JMB LP shall concurrently herewith (i) cause the JMB Indemnitors to execute and deliver to the General Partner the JMB Indemnity, and (ii) deliver to the General Partner a marketable security in form and substance acceptable to the General Partner which will be guaranteed by the full faith and credit of the United States of America and which will have a market value as of January 2, 2001 of $10,000,000 (the "JMB COLLATERAL").
If JMB LP shall take a Prohibited Action (the date of such Prohibited Action being the "DEFAULT DATE"), the General Partner shall have the continuing right at any time after the Default Date to exercise the Purchase Right pursuant to Section 12.2A.
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Xxe Partnership shall be responsible for funding the remaining 25% of the Development Costs to be borne by the Partners in their respective Percentage Interests at the time of funding (i.e. 74% to be charged to the Capital Accounts of the Managing Partner and St. Joe Xxxelopment (or 18.5% of the total Development Costs) and 26% to be charged to the Capital Accounts of the Non-Managing Partner and JMB LP (or 6.5% of the total Development Costs), subject to adjustment as provided in Section 3.3).
Pursuant to the Act, the Non-Managing Partner and JMB LP have formed a limited partnership under the laws of the State of Delaware by filing the Certificate with the Delaware Secretary of State and otherwise complying with the requirements of the Act for the formation of limited partnerships.
The General Partner shall hold the JMB Collateral in accordance with the terms hereof and JMB LP hereby grants to the General Partner a first priority perfected security interest therein and agrees to take such actions as the General Partner may reasonably request to ratify, confirm 11764.0001 340937.14 39 and continue such security interest.
As of the date hereof and immediately after the contribution of the Contributed Assets to the Partnership, the Managing Partner hereby purchases 1 Unit from the Non-Managing Partner and St. Joe Xxvelopment hereby purchases 73 Units from JMB LP for the aggregate cash purchase price of .